In the Investments channel in our Discord, I suggested that it was likely a good time to buy in November 2018 at the point noted. It looks like we may have another good opportunity to buy now as well.
Gold appears to be completing subwave 2 of wave 3 with an initial target of the R2 pivot area as well as a full wave 3 target of the R3 pivot area. The former target aligns with the expected target based on the current flag printing and the latter target aligns with target based on the height of the red symmetrical triangle. Weekly RSI remains bullish at 56 while appearing to consolidate. Weekly Stoch RSI is near bottom. The HVN should continue to support price as it readies to move up.
Gold appears to be completing subwave 2 of wave 3 with an initial target of the R2 pivot area as well as a full wave 3 target of the R3 pivot area. The former target aligns with the expected target based on the current flag printing and the latter target aligns with target based on the height of the red symmetrical triangle. Weekly RSI remains bullish at 56 while appearing to consolidate. Weekly Stoch RSI is near bottom. The HVN should continue to support price as it readies to move up.
Comment:
There is an alternate view which could have Wave 2 printing an ABCDE triangle. That would mean that we could see price targeting the triangle support before moving up. However, the wave 3 and 5 targets remain valid.
